**Question 2**From the following trial balance of Bumi Hijau Sdn. Bhd., you are required to draw up a Statement of profit or loss and statement of financial position for the year ended 30 June 2016.**Trial Balance Bumi Hijau Sdn. Bhd. as at 30 June 2016**| **Debit** | **Credit** ||-------------------------------|------------------|| Sales | 325,000 || Purchases | 185,000 || Rental expenses | 4,000 || Lighting and heating expenses | 2,000 || Returned inwards | 500 || Returned outwards | 300 || Salaries and wages | 30,000 || Insurance | 2,000 || Buildings | 80,000 || Carriage outwards | 300 || Discount received | 500 || Fixtures | 8,000 || Account receivable | 15,000 || Sundry expenses | 1,000 || Account payable | 17,000 || Cash at bank | 30,000 || Drawings | 2,000 || Motor vehicles | 20,000 || Upkeep of motor vehicles | 5,000 || Capital | 47,000 || Opening inventory | 5,000 |**Totals**- Debit: 389,800- Credit: 389,800**Additional Information:**i) Accruals are necessary for rent RM150 ii) Insurance has been prepaid by RM150 iii) Inventory at the year-end is RM18,000.

Income statement:An income statement stands for the statement that shows profits and loss of the…

Answered: From the following trial balance of…

From the following trial balance of Bumi Hijau Sdn. Bhd., you are required to draw up a Statement of profit or loss and statement of financial position for the year ended 30 June 2016.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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